Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1887-11-18
The New Panama Revelations

One OF the strangcst pieces of financial
history which has transpired in the present
century, is that to which has carried the
Panama canal scheme to it, existing status
The amount of Illusion, deception, and
baseless hopes which have been brought
into use in its behalf is colossal The
audacity, diplomatic skill, and boundless
energy of the chief manager, have rarely
been equalled by Frenchmau and scarcely
surpassed by the Corsican adventures,
who for twenty years fooled and terror
ired gallant and trusting people. The
latest revelation of facts and plans, in gen
eral import, Is in keeping with much which
had previously been made manifest to the
deluded men and women who had placed
vast sums In the hands of the gifted
schemer whose boldness Is equal to that
OF Law. According to the cable dispatch.
DE Lesseps had addressed a letter to the
French Premier, asking for the necessary
authority to raise loans for the canal by
issuing lottery bonds, stating that he is
negotiating to insure digging passage
across the lsthmus sufficient for traffic of
half million tons yearly, reserving the
completion of the work for the future. He
maintains that the funds for finishing the
work according to the original plan may
be derived from the annual earnings of
the canal.
These extraordinary statements OF the
Napoleon Of the shovel and the hourse are
made, just at the date of coming to the
public of the text of the report
of Senior TANGO Amero, agent of the
Columbian government on the Panama
Canal. Senior Amero says the Canal Com
pany shows that it has Ii 900 men at work.
but that with the machinery in operation
II is represented that the total amount of
work effected Is equivalent to that of GOO
600 men. The Columbian agent declares
that he firmly believes there have never
been more than 5000 men employed, and
that the work accomplished sustains his
estimate. He finds that the greatest mum
Der of the working sections are nearly
works are very few compared with the
numbers which should he employed.
Senior Amero SAYS the situation of the
Canal Company, Sept. |, is that there has
already been expended by the company
SlS,OOa,9 900 francs, and that it must be re-
membered that the expenses of manage
ment, interest, etc, annually amount to
lO0,Oo, 900 francs, which sum will continue
to increase now that additional interest
must be paid on the new loans, and as it
has already been shown that three thou
sand million of francs more are required
to meet the expenses of excavation and
cludes his report by declaring. that he is
compelled to believe that the canal COM
pany will annually obtain less money.
even should it offer higher rates of interest,
and he regards it absolutely certain that it
will he difficult to obtain the requisite
fabulous sum. This crushing revelation
OF Facts added to all those which had
previously been made known to the pub
NC, show with startling precision and force
the stupendous failure of the original
Delesseps Panama scheme. The vast
sum Of money already expended and the
interest which large number of French
Su'hens are compelled to take in this
water way to the Pacific, strongly indicate
that the French government win involxa
Itself In the affairs of the Isthmus to n
degree inimical to American interests
especially TO those of the United States.
DeLesseps' glib tongue and fair promises
are of no account against the stubborn
facts and hard logic.